DALLAS - The new Homewood Suites in downtown Dallas has been purchased for $25.4 milllion. The ten-story Hotel on Elm St. opened in October and has been sold by developer Lowen Hospitality Management.

Apple Ten Hospitality Management of Richmond, Virginia, purchased the 130-suite hotel. Lowen Hospitality redeveloped the former United Fidelity Life Insurance Building — which had been vacant for more than a decade — into the hotel.